New York, Feb 27, 2026, 08:59 EST — Premarket
- Primo Brands (PRMB) down 1.6% in premarket at $22.30 after closing up 15.4% on Thursday
- Company set 2026 targets that include organic net sales growth of 0% to 1% and adjusted free cash flow of $790 million-$810 million
- Focus turns to direct-delivery service recovery and the final integration waves
Primo Brands Corporation shares fell 1.6% to $22.30 in premarket trading on Friday, after closing at $22.65 in the previous session. 1
The pullback comes after a jolt higher a day earlier, when investors latched onto management’s 2026 targets and signs of improving service in the company’s direct-delivery business.
Why it matters now: Primo Brands is still working through the operational after-effects of its merger, and its route-based delivery business has been the drag. The company is also leaning on a “second-half” recovery profile for 2026, which can make the first half feel like a test of nerves.
Primo Brands said fourth-quarter net sales were $1.554 billion and it reported a net loss from continuing operations of $25.3 million, or 7 cents a share. Adjusted earnings were 26 cents a share and adjusted EBITDA — a profit metric that strips out certain items — was $334.1 million, the company said. 2
On the earnings call, CFO David Hass said Primo Brands expects 2026 organic net sales growth of 0% to 1%, with the return to growth “weighted in the second half.” The company forecast adjusted EBITDA of $1.485 billion to $1.515 billion and adjusted free cash flow of $790 million to $810 million; Hass said one of two remaining integration waves was carried out “last weekend.” He added the board had authorized a $0.12 quarterly dividend and that about $107 million remained under a $300 million share repurchase authorization; Barclays analyst Lauren Lieberman said the free-cash-flow guide “came in better than we were thinking,” according to the transcript. 3
Chief Executive Eric Foss called 2025 “a year of transition” and said the fourth quarter showed “early signs” that initiatives were improving the business trajectory. He said the company still needed to improve the customer experience and “fully” leverage its brands and go-to-market system. 4
The company’s “adjusted” figures are not based on U.S. GAAP accounting rules and can differ from similarly named measures used by other companies. Traders often watch them anyway because they are central to how management frames performance and cash generation.
But the setup is not clean. Guidance depends on steady execution in direct delivery, smooth completion of integration work and a better run of service metrics, while management also flagged a tougher start to the year and weather-related headwinds.
Investors’ next test is whether service levels and customer trends keep improving as the company completes the remaining integration wave later this quarter — and whether the direct-delivery business can turn customer net adds positive in the second quarter, as management outlined on the call.
